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The report says the number of music streaming users is approaching 590 million, while Apple's Apple Music users are 88 million.

via:IT之家     time:2023/5/4 16:01:13     readed:196

According to the latest report released by market research agency OnlyAccounts.io, the total number of users of music streaming platforms such as Apple Music is close to 590 million by 2022, with an increase of 330 million users in the past five years.

The report shows that music media companies have moved from confrontation to cooperation, recognizing the development trend of streaming platforms such as Spotify, YouTube Music and Apple Music, and the music market has been growing since 2014, and the most important driver is subscription.

According to data released by Statista, only 41 million users used the music streaming service in 2014; in 2018, the number of subscribers to the streaming platform increased sixfold to 255 million.

The growth over the next two years is even more significant.The number of subscribers jumped by 86 million in 2019It soared by 102 million in 2020. Although the growth rate in 2021 and 2022 is lower than that in previous years, the streaming platform still added 1.46 million new users.The total number of users reached nearly 590 million.

According to the platform analysis, Spotify is undoubtedly the largest player in the market.Last year it had 188 million subscribers.Accounting for 31% of the total number of global subscribers. It was followed by Apple Music and YouTube MusicIt has 8800 million and 80 million subscribers respectively.

Thanks to hundreds of millions of users around the world, the revenue of the music streaming platform has more than doubled in five years. Total market revenue was $23.2 billion in 2022, up from $11.7 billion in 2018, according to Statista. That figure will grow by another 10%, reaching $25.7 billion by 2023.

Thanks to hundreds of millions of users around the world, the revenue of the music streaming platform has more than doubled in five years. Total market revenue was $23.2 billion in 2022, up from $11.7 billion in 2018, according to Statista. That figure will grow by another 10%, reaching $25.7 billion by 2023.

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